22 Dec '16, 4am

New post added at LushHomeMedia - Estate agent Franks Property, sole director fined S$215,000 for unlicensed work

Property management company Franks Property and its sole director were on Wednesday (Dec 21) fined a total of S$215,000 for conducting unlicensed estate agency work, the largest fine meted out by a court for such an offence, the Council for Estate Agencies (CEA) said in a media release. The company had carried out three property transactions without first being licensed as an estate agent. Its sole director and shareholder is Lim Koon Heng, 70, who had signed off on the invoices in question. The CEA noted that Lim and/or Franks Property had previously held a house agent licence issued by the Inland Revenue Authority of Singapore. After the CEA was formed in October 2010, all property agencies and agents had to be licensed and registered with the CEA to carry out estate agency work. Lim and Franks Property did not do so. They were taken to court over three sale and purchase...

Full article: http://www.lushhomemedia.com/manage_posts/2016/12/22/esta...

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Property company, director fined $215,000 for u...

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This is the largest fine handed down by the court for this offence. A property management company and its sole director ha...

Property company, director fined $215,000 for u...

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This is the largest fine handed down by the court for this offence. A property management company and its sole director ha...

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